Important concepts to learn during an MBA in Operations Management
Whether you are an aspiring student who wants to upskill or a working professional looking to explore new domains or job roles, a Master of Business Administration (MBA) is the most in-demand course you can consider doing. With the recent unprecedented outbreaks and the upgradation in high-speed internet technologies, most candidates are upskilling themselves by enrolling in online degrees like MBA and various popular master’s degree programmes. Online degrees will help you graduate in your desired career path from the comfort of your home
MBA being the most sought-after online degree, comes with various specialisations. You can choose your desired major in MBA according to your interest in a specific field and relevant skills. Some popular MBA specialisations include finance, marketing, HRM, BFSI, Operations Management, etc. If you are interested in managing logistics, product development, supply chain management, customer relationship management, and other allied areas, an MBA Operations Management course will be perfect for you. This course is designed comprehensively and includes an extensive syllabus covering a wide range of subjects and important concepts. The Operations Management course not only gives you access to a variety of job roles but also the most required skills that make you stand out from others.
If you are wondering about the salary packages for an Operations Management graduate, it’s about time to take a look at the prospects. With the recent boost in the e-commerce industry and blockchain usage by top industry leaders like Amazon, the scope for Operations Management graduates is also relatively increasing. To grab the highest positions in the top MNCs and organisations, you must make sure to fit the job role and possess the required skills. Considering the changing trends and fast-growing e-commerce companies, it can be observed that there will be no near shortage in demand for Operations Management graduates and experts.
The best part of an MBA in operations management is that it will open doors to employment options various industries. You will not be limited to a single sector and can choose from multiple options according to your interests. From pharma, automobiles, construction, e-commerce, aviation, and many more industries, you can switch job roles among industries based on your convenience. Public sectors as well as private sectors are also welcoming Operations Management graduates to manage their businesses and achieve business objectives with increased efficiency.
Subjects covered in MBA Operations Management
The standard MBA in Operations Management is a 2-year course that imparts industry-ready knowledge and skills to the students. You must know the MBA Operations Management syllabus to score top grades and become a highly coveted Operations Management professional. With a brief idea about the overall course content and the subjects involved, you can hone your knowledge and skill set for the best career. However, it should be noted that the MBA Operations Management syllabus might vary across universities. You can also get hands-on experience on real-world problems and various webinars and interact with the industry leaders & professors throughout the course duration. There will be specific elective subjects from which you can pick the desired ones per your selected major. Here’s a look at the standard syllabus of Operations Management. Note that this can vary for each college or university.
MBA Operations Management syllabus:
The syllabus is divided semester-wise, and candidates get in-depth specialisation knowledge with the progress in each semester.
|Semester – 1||Semester – 2|
|Communication Skills Development||Business Communication|
|Business Skills Development||Project Management|
|Demand And Business Forecasting||Production Management|
|Organisation Management||Business Policy and Strategic Management|
|Accounting For Managers||Business Process Modelling|
|Managerial Economics||Enterprise Resource Planning|
|Corporate Environment||Production, Planning and Control|
|Quantitative Techniques and Methods||Corporate Legal Environment|
|Semester – 3||Semester – 4|
|It (Information Technology)||Seminar|
|Material Management||Operation Management|
|Logistics and Supply Chain Management (SCM)||Information Management|
|Operations Management||International Business Management|
|Project – 1||Project – 2|
|Specialisation – HRM||Specialisation – HRM|
MBA Operations Management subjects:
Students should focus on the essential MBA Operations Management subjects and electives. You can pick these elective subjects based on your field of interest. Besides these subjects, candidates must also equally focus on projects, workshops, tests, seminars, doubt sessions with experienced faculty, etc. Here’s a look into core subjects or topics along with the electives available.
|Corporate Legal Environment||Enterprise Resource Planning (ERP)|
|Corporate Environment||Supply Chain Management (SCM) and Logistics|
|Accounting For Managers||HR Planning and Development Management|
|Managerial Economics||Retail Marketing Management|
|Production Management||Sales Management|
|Project Management||Sales and Distribution Management|
|Business Skills Development||Operations Management and Strategy|
|Organisation Management||Industrial Marketing|
|Business Communication||Consumer Behaviour|
|Quantitative Techniques and Methods||International Marketing Advertising|
|Demand Forecasting||Organisational Change and Development|
Key Operations Management topics you must familiarise with
Here are some must-learn Operations Management topics that will help you understand this specialisation’s essence. Excellent knowledge of these concepts will aid in transforming any candidate into a top student and the desired employee by top recruiters. Students should also pay attention to acquiring the practical skills considering that theoretical knowledge alone is insufficient to thrive in this competitive market. Below are the top eight key concepts in MBA Operations Management that one must familiarise with throughout this course.
- Production, planning, and control
Also known as PPC, this is the predetermined process or technique used to plan every single step to be taken in the long-term production process. The main objective of PPC is to help the business make the right decision at the right time and place to achieve optimal or maximum efficiency. PPC is crucial to various business concerns as it enables the production units to manufacture within the planned schedule resulting in timely delivery of products to potential customers.
There are multiple benefits of PPC, such as minimum wastage, high-quality products at minimum costs, optimal resource utilisation, increased labour productivity, and more. The outcomes of PPC include better CRM, improved customer satisfaction, decreased potential bottlenecks, reduced turnaround or lead time, optimum inventory, etc.
- Behavioural operations management
BOM or Behavioural operations deals with the decision-making processes in which human emotions and behaviours are considered to thoroughly study the effect of these on complex decisions. This is one of the major subfields in Operations Management which is further subdivided into various key topics that enable the candidates to become better managers with a clear understanding of the decision-making process. Behavioural operations apply behavioural economics knowledge to manage business operations. Behavioural economics is the field of study in which economics and psychology are combined to study the information processed by people in roles such as managers, employees, consumers, etc., and decision outcomes.
BOM aids in solving the operational bottlenecks by keeping them as low as possible. The main goal of BOM is to understand the deviation of people’s decisions from the optimal choices and the consequences of such deviations in business management and markets. BOM also influences supply chain management (SCM) as these subfields go hand in hand.
- Inventory management
As the current assets for most manufacturing entities include inventory, it is important that businesses implement effective inventory management techniques. Inventory management is a vital part of SCM, which is responsible for the smooth functioning of logistics and the supply chain. Many small and medium businesses fail to promptly implement inventory management techniques, which leads to mishaps like inventory shortages, spoilages, and overstock. Various online inventory management softwares aim to assist businesses in the best possible ways.
Inventory management controls inventory stock levels to minimise the relevant costs like ordering and carrying costs. The advantages of this management technique include minimal costs, smooth cash flow, improved profitability, and longevity. This helps the businesses to track the inventory stock levels and movement. The main types of inventories include raw material, work-in-progress (WIP), finished goods and loose tools or MRO (maintenance, repair and operations). Some of the famous and most implemented inventory management techniques include
- ABC Analysis
- Economic Order Quantity (EOQ)
- Minimum Order Quantity (MOQ)
- Reorder Quantity
- Safety Stock
- FIFO And LIFO
- Perpetual Inventory Management
- Six Sigma
- Lean Manufacturing
- Demand Forecasting
- Batch Tracking
The main reason behind the increased importance of inventory management is to enhance overall business performance, customer satisfaction and profitability. The optimal inventory management technique differs for each business so businesses need to implement effective inventory management techniques to minimise errors and improve seamless logistics.
- Quality management
Directed toward the achievement of common goals, quality management or total quality management (TQM) is the business management strategy that is customer-oriented. It is a process of supervising and overseeing the business activities to be fulfilled to maintain the desired quality. It requires the management’s commitment and all potential shareholders to work as a team to improve the products, processes, services, values and culture of the company as a whole.
There are four main components in TQM: quality planning, quality control, quality assurance, and quality improvement. With a better TQM, the businesses will be able to provide best-in-class products and services that can satisfy customer needs, resulting in improved customer satisfaction. The above four stages are executed simultaneously to deliver the company excellence and trust to the customers.
- Assemble-to-order strategy
Similar to the make-to-order strategy, assemble-to-order is a business manufacturing strategy in which sub-assembled parts or components are brought together and assembled to arrive at a final product delivered to the customer. In the make-to-order strategy, the final product is made from scratch, not from sub-assemblies. The customer can order fully customisable products in a make-to-order strategy, and the product is made according to the customer’s specific requirements. However, the assemble-to-order strategy also includes customisation of the product according to customer needs, but less when compared to the make-to-order strategy.
This strategy is implemented by companies that can assemble and deliver products in a minimal or quick time. The business entities use demand forecasting techniques, such as data analytics, market conditions, economic trends, past historical data, etc., to make the sub-assemblies and a final product. It can be observed that the assemble-to-order strategy is much faster than the make-to-order strategy. With this strategy, businesses can reduce the inventory holding or storing costs and warehouse space. The vital benefits of this strategy include reduced TAT, faster delivery, low business costs, etc.
- Six sigma
The six sigma process considers the data analysis and statistics to interpret and prevent product errors. It reduces the defects to a minimum acceptable level while at the same time improving cycle times. Six sigma shows its true results when implemented properly. The data-driven management tools and techniques increase business efficiency while decreasing product defects. The key principles of six sigma include customer focus, discovering the underlying root problems, fully eliminating the bottlenecks and related junk, implementing the structured business processes, and a responsive ecosystem involving seamless adoption of business changes.
Six sigma aids in achieving a better CRM with the help of the DMAIC methodology. With this DMAIC or DMADV data-driven method, the company improves existing products and services by re-designing various product manufacturing processes or service delivery. The business transformation starts with the DMAIC method, an acronym for the five transformation phases: D – Define, M – Measure, A – Analyse, I – Improve, and C – Control. The popular six sigma techniques include the Kaizen principles, benchmarking, poka-yoke (mistake proofing), and value stream mapping, among others.
- Business process reengineering (BPR)
BPR is the multi-dimensional approach to improving business performance by eliminating the redundant or unwanted steps in the business processes that are of no use and do not add any value to the customer. It is a continuous improvement process that enables businesses to reduce TAT and cycle times. In simple words, BPR is deconstructing business processes entirely and radically redesigning them.
BPR can be considered an unusual business improvement strategy that redesigns the critical business processes, which involves verifying and rethinking the basic process. Here the workflows both within and between the organisation are analysed thoroughly by considering minute details like why work is done, where and when it is done and who does it. It also involves redesigning processes between external parties like service providers, distributors, creditors, suppliers, etc.
It is a 5-step redesigning process which includes::
- Determining the required objectives that provide focus, direction, and motivation for redesigning.
- Identifying customers and their needs to provide great value addition to them.
- Comprehending the existing business processes for clearly redesigning the new ones.
- Designing and formulating the business re-engineering process plan.
- Implementing and reviewing the redesigned process.
The main crux of the above-mentioned BPR steps is the designing and formulating BPR plan. With the sudden outbreak of unprecedented situations and emerging technologies, it is important that businesses consider BPR to adapt to the fast-changing market conditions for thriving and surviving in the cutthroat business competition.
- Agile Manufacturing
Agile manufacturing is the production method that focuses on providing a rapid response rate to customers as a business core competency. With this key competitive advantage, business establishments improve efficiency and decrease costs while being able to react to the fast-changing market conditions. Any company with this core competency is sure to fulfil the ever-changing customer demands and take every possible opportunity.
The key agile manufacturing elements include modular product design, IT, corporate collaborations, and knowledge culture. The popular lean manufacturing methodology also relates to the agile method. While the lean method minimises wastage with the same high quality and productivity, the agile method primarily focuses on satisfying customer demand in the minimum TAT possible.
Explore the various opportunities in Operations Management – a booming sector
The ever-changing customer needs, fast-changing market conditions and technologies have increased the demand for MBA Operations Management graduates in various sectors. Various companies, irrespective of their industry, size and location, realise the importance of efficient Operations Management in this competitive business world. The aspirants should possess the in-depth knowledge and skill set to land high positions in the top companies. Most companies need Operations Management professionals indicating the rising demand for the MBA Operations Management specialisation. MBA Operations Management graduates and professionals are welcomed to a variety of diverse sectors such as:
- Manufacturing and Retail
- Information Technology
- Consulting Firms
MBA Operations Management is getting the recognition it deserves in recent years with the considerable mayhem that happened due to the lack of adequate planning and management. A career in MBA Operations Management gives you the key to entering diverse industries and job roles. An MBA Operations Management graduate is provided with various job roles such as:
- Operations Manager
- Plant Manager
- Area Operations Manager
- General Operations Manager
- Manufacturing Consulting Manager
- Process Reengineering Manager
- Supply Chain Manager
- Logistics Manager
- Business Analyst
- Chief Operating Officer
- Production Supervisor
- Quality Manager
These are some of the job roles you can get across diverse industries. The career for MBA operations management graduates looks positive and is an excellent option for the candidates with exceptional planning and organisational skills. Get ready to enter the globally booming sector of Operations Management as jobs in this industry are expected to increase by 9.4% by 2030, according to a report by U.S. News. The top careers in MBA Operations Management include – business operations management, materials management, operations research, and purchasing management.
According to PayScale, the average MBA Operations Management salary comes to around INR 9.4 lakhs and it varies with experience. You can land a top position in popular companies like Amazon, IBM, GE, Ford, JP Morgan Chase, The Boeing Company, Tech Mahindra, Wipro, Caterpillar, Blue Dart, DTDC, Maruti Suzuki, and more.
How does an MBA in Operations Management make you future-ready?
An MBA in Operations Management allows you to enter your desired job role in a particular sector. The MBA in Operations Management is all you need to advance your career and secure a handsome salary package, drastically improving your earning potential.
Following the completion of the Operations Management course, you will acquire knowledge and skills required for the most sought-after job titles. You can improve your strategic thinking and decision-making process, transforming you into becoming the best manager or analyst in this space.
The theoretical knowledge combined with the skill set increases your job opportunities. The MBA in Operations Management imparts the crucial skills required, such as strategic planning, ability to develop new and innovative products, problem-solving and communication skills, organisational skills, analysis of potential risks, etc. However, you can enhance and sharpen your skills over time and according to experience.
Climb up the corporate ladder with an MBA from Online Manipal
An MBA in operations management prepares you to get into management and other leadership roles in the domain. Whether you’re a student looking to pursue post graduation in operations management or a mid-career professional looking to climb up the corporate ladder, an online MBA will surely help your cause. Online Manipal offers a variety of specialisations in MBA including operations management. Once you enrol for a degree programme from Online Manipal, you get access to the extensive e-learning content including Coursera courses, webinars from industry experts, certification programmes, live and recorded classes, and more. Manipal University Jaipur’s enhanced digital platform offers a comprehensive and immersive learning experience for learners.
Online courses allow you to study on the go at your desired speed from anywhere and anytime. Now get an MBA in Operations Management or any other specialisation and achieve new heights in your career..
Get your course completion certificate from the renowned Manipal University Jaipur and increase your chances of being shortlisted by some of the popular companies.
Take the leap and pursue the desired course to kick-start your career. Grab high-paying job opportunities at the right time by pursuing the most in-demand online courses at MUJ. The MBA in Operations Management is the right course for candidates interested in managing, planning and reviewing business processes and manufacturing innovative products at minimal costs.
Besides operations management, you can also explore a variety of courses in various topics like Management, Commerce, IT, Supply Chain, Data Science, Business Analytics, and more at Online Manipal, your one-stop online learning platform.
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